H 
3.32
+7.10%
Close of 9 Nov 2026, in CNY
Search any instrument
Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥392.2m
FY2016FY2025
Net income
−CN¥370.7m
FY2016FY2025
Free cash flow
−CN¥274.5m
FY2016FY2025
Shareholders' equity
CN¥831.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥392.2m | CN¥375.1m | CN¥402.4m | CN¥489.3m | CN¥486.8m | CN¥330.3m | CN¥546.4m | CN¥697.7m | CN¥414.4m | CN¥407.2m |
| Research and development | CN¥49.7m | CN¥62.6m | CN¥76.5m | CN¥50.0m | CN¥61.0m | CN¥53.1m | CN¥29.6m | CN¥19.4m | CN¥13.8m | CN¥19.7m |
| Operating income | — | −CN¥381.2m | −CN¥298.9m | −CN¥498.3m | −CN¥500.4m | −CN¥541.9m | CN¥108.4m | CN¥216.7m | CN¥113.0m | CN¥9.2m |
| Net income | −CN¥370.7m | −CN¥346.3m | −CN¥281.3m | −CN¥421.2m | −CN¥513.4m | −CN¥512.9m | CN¥56.3m | CN¥198.3m | CN¥94.1m | CN¥15.8m |
| Diluted earnings per share | -0.61 | -0.57 | -0.46 | -0.70 | -0.93 | -0.98 | 0.11 | 0.37 | 0.18 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.56bn | CN¥1.83bn | CN¥1.92bn | CN¥2.12bn | CN¥2.56bn | CN¥2.57bn | CN¥3.15bn | CN¥3.23bn | CN¥2.36bn | CN¥1.28bn |
| Cash and short-term investments | — | CN¥147.6m | CN¥206.9m | CN¥510.7m | CN¥875.0m | CN¥390.9m | CN¥550.9m | CN¥1.13bn | CN¥1.24bn | CN¥292.3m |
| Total liabilities | CN¥988.3m | CN¥863.4m | CN¥567.3m | CN¥464.0m | CN¥391.3m | CN¥554.8m | CN¥540.8m | CN¥791.8m | CN¥97.2m | CN¥120.9m |
| Debt | CN¥2.0m | CN¥107.8m | CN¥136.2m | CN¥149.1m | CN¥241.8m | CN¥378.6m | CN¥335.3m | CN¥657.0m | CN¥30.0m | CN¥50.0m |
| Shareholders' equity | CN¥831.2m | CN¥1.20bn | CN¥1.56bn | CN¥1.84bn | CN¥2.17bn | CN¥2.02bn | CN¥2.61bn | CN¥2.42bn | CN¥2.26bn | CN¥1.13bn |
| Shares outstanding | 605m | 605m | 605m | 605m | 549m | 523m | 528m | 530m | 518m | 415m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥82.0m | −CN¥3.3m | −CN¥84.0m | CN¥29.6m | −CN¥8.1m | −CN¥35.5m | −CN¥128.6m | CN¥4.0m | −CN¥83.3m | CN¥2.8m |
| Capital spending | −CN¥192.5m | −CN¥24.6m | −CN¥174.4m | −CN¥133.9m | −CN¥84.9m | −CN¥131.0m | −CN¥211.0m | −CN¥109.9m | −CN¥38.3m | −CN¥50.8m |
| Free cash flow | −CN¥274.5m | −CN¥27.9m | −CN¥258.4m | −CN¥104.3m | −CN¥93.1m | −CN¥166.4m | −CN¥339.6m | −CN¥105.9m | −CN¥121.6m | −CN¥48.1m |
| Dividends paid | −CN¥2.5m | −CN¥4.7m | −CN¥6.0m | −CN¥7.5m | −CN¥14.1m | −CN¥16.0m | −CN¥11.6m | −CN¥32.1m | −CN¥6.7m | −CN¥16.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥44.8m | CN¥106.6m | CN¥132.9m | CN¥74.6m | CN¥109.8m | CN¥74.9m | CN¥111.2m | CN¥99.3m |
| Operating income | −CN¥43.1m | −CN¥26.2m | −CN¥36.7m | −CN¥57.3m | −CN¥67.8m | −CN¥36.7m | −CN¥222.2m | −CN¥70.5m |
| Net income | −CN¥59.0m | −CN¥42.7m | −CN¥219.3m | −CN¥55.4m | −CN¥61.8m | −CN¥34.2m | −CN¥203.4m | −CN¥64.5m |
| Diluted earnings per share | -0.10 | -0.07 | -0.36 | -0.09 | -0.10 | -0.06 | -0.34 | -0.11 |
| Cash from operations | — | — | — | −CN¥4.0m | −CN¥117.0m | CN¥56.0m | — | CN¥68.0m |
| Capital spending | −CN¥6.0m | −CN¥3.0m | −CN¥25.0m | −CN¥12.0m | −CN¥152.0m | −CN¥1.0m | −CN¥6.0m | −CN¥10.0m |
| Free cash flow | — | — | — | −CN¥16.0m | −CN¥269.0m | CN¥55.0m | — | CN¥58.0m |
| Total assets | CN¥1.40bn | CN¥1.50bn | CN¥1.56bn | CN¥1.80bn | CN¥1.80bn | CN¥1.87bn | CN¥1.83bn | CN¥1.99bn |
| Cash and short-term investments | — | — | — | CN¥97.4m | CN¥85.0m | CN¥178.9m | CN¥147.6m | CN¥95.0m |
| Debt | CN¥1.5m | CN¥1.5m | CN¥2.0m | CN¥60.7m | CN¥57.8m | CN¥83.5m | CN¥102.2m | CN¥112.5m |
| Shareholders' equity | CN¥729.1m | CN¥788.3m | CN¥831.2m | CN¥1.06bn | CN¥1.12bn | CN¥1.17bn | CN¥1.20bn | CN¥1.42bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -99.2% | -101.6% | -74.3% | -100.4% | -102.8% | -157.3% |
| Net margin | -94.5% | -92.3% | -69.9% | -86.1% | -105.5% | -155.3% |
| Return on equity | -44.6% | -28.8% | -18.0% | -22.9% | -23.7% | -25.4% |
| Return on assets | -23.7% | -18.9% | -14.6% | -19.9% | -20.0% | -20.0% |
| Free cash flow yield | 6.0% | 1.1% | 4.9% | 8.8% | 4.6% | 5.9% |
| Revenue growth | 4.6% | -6.8% | -17.8% | 0.5% | 47.4% | -39.5% |
| Earnings growth | 7.0% | 23.1% | -33.2% | -18.0% | 0.1% | -1010.6% |
| Current ratio | 1.00x | 1.18x | 1.73x | 2.32x | 4.33x | 2.64x |
| Debt to equity | 0.00x | 0.08x | 0.08x | 0.07x | 0.11x | 0.19x |
| Equity ratio | 53.1% | 65.7% | 81.2% | 86.8% | 84.6% | 78.6% |
| Interest coverage | -120.08x | -73.16x | -50.30x | -61.14x | -29.43x | -30.41x |
| R&D as a share of sales | 12.7% | 16.7% | 19.0% | 10.2% | 12.5% | 16.1% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | -10.1% | -5.1% | 0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.1% | 3.5% | -1.9% |
| Net income | -4.2% | -6.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | -93.4% | -85.6% | -98.8% | -41.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.5 | -12.6 | -24.8 | -9.6 | -19.7 | -9.2 | 94.7 | 23.8 | 56.0 | 404.2 |
| Price to sales | 8.0 | 11.6 | 17.4 | 8.3 | 20.8 | 14.3 | 9.8 | 6.8 | 12.7 | 15.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Jun 2018.
| FY2018 | FY2017 | FY2016 | FY2013 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.01 | 0.04 | 0.04 |
- 5-for-2 split · 16 May 2016
- 2-for-1 split · 9 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.